Something You Should Know - Wondery Presents: We Crashed

Episode Date: March 15, 2022

The founders of WeWork thought they were on the brink of making history. The company was valued at $47 billion dollars, ready for a huge IPO, and its charismatic CEO Adam Neumann believed he was going to change the world. Adam and his wife Rebekah had a prophet-like vision—but did it ever match the company's reality? Now the inspiration for a new AppleTV+ series starring Jared Leto and Anne Hathaway, WeCrashed: The Director’s Cut is a complete refresh of our original six-part series. Hosted by David Brown of the hit podcast Business Wars, this six-part series includes new interviews and new discoveries about the rise and fall of WeWork.  It’s a story of hope and hubris, big money and bigger screwups, and the lengths people will go to chase “unicorns Listen to WeCrashed: The Director’s Cut: wondery.fm/SYSK_WeCrashed_DC Learn more about your ad choices. Visit megaphone.fm/adchoices

From Wondery, the hit podcast We Crashed is now an Apple TV Plus series about WeWork, a company that promised a utopia but delivered a catastrophe. It's January 2019 and you're one of thousands of WeWork employees flying into Los Angeles from all over the world. Ashton Kutcher is on stage and the Red Hot Chili Peppers are there to put on a private concert. It's the most extravagant company event you've ever seen. There's just one problem. Adam Neumann, the charismatic CEO of WeWork, is spending investors' money at a reckless rate. And in a few months, the illusion of this revolutionary unicorn company is going to fade away. Hosted by David Brown of the hit podcast Business Wars,

We Crashed the Director's Cut is a refreshed six-part series about the meteoric rise and swift fall of WeWork, including new details about Adam's wife, Rebecca Newman, and her involvement in the company. Tune in after each Apple TV Plus episode to the We Crashed podcast for special bonus episodes hosted by Scott Galloway, one of WeWork's earliest critics, as he goes behind the scenes of the new Apple TV Plus series of the same name, starring Jared Leto and Anne Hathaway. You're about to hear the trailer for We Crashed.

While you're listening, make sure to follow We Crashed on Apple Podcasts, Amazon Music, or wherever you're listening right now. You can also listen ad-free by joining Wondery Plus in Apple Podcasts or the Wondery app. Lisa Skye Hayne loved working with people. I want to do something that really lights me up. I love creating community, connecting people.

She was excited about her new job. Day one, literally 8 a.m., I have an email that says, good morning, let's create the largest networking community on the planet. Lisa's new boss was a 6'5 entrepreneur from Israel named Adam Newman, and he had a brand new startup called WeWork. I remember thinking, all right, I'm about to be on a ride. Why is this a better idea for millennials than working at home or finding an office? We like to say this is for the we generation. It's not limited by age or gender.

He said that they were elevating the consciousness of people on the planet. It was a billion dollar idea. The co-working giant WeWork is amongst the most valuable startups in the world. Downtown Vancouver. We work here in Shenzhen. WeWork is amongst the most valuable startups in the world. Downtown Vancouver. We work here in Shenzhen. WeWork.

Kulaan Mumbai. I say we, you say what? We work! Who does this? Do all the people at Deloitte go, De-Loyd, De-Loyd. Or Goldman, Goldman Sachs, Goldman Sachs. Nobody does that.

Nobody does that. It's weird. It's just so weird. From Wondery, we crashed. About a $47 billion startup. It was a lot of talk about movement and culture and spiritual awakening and empowerment. And quite frankly, it just all sounded, you know, it's easy to say now. It all sounded like bullshit.

That was just too good to be true. One of my colleagues turned to me and said, oh my fucking God, this is a cult. We Crash, the director's cut, is available now on Apple Podcasts, Amazon Music, or wherever you listen. You can binge all episodes ad-free by subscribing to Wondery Plus in Apple Podcasts or the Wondery app.

Cause we're gonna be legends Gonna get their attention What we're doing here ain't just scary It's about to be legendary You're not elevating anyone's consciousness, buddy. You're running a fucking desk.